Unlike other forms of professional liability insurance, media liability insurance does not expire.
Let me explain.
A media liability insurance policy covers an occurrence that happened during the policy period, regardless of when the claim is made. For instance, if you obtain coverage for a new production and twenty years later a claim of fraud is filed against you, then the policy still applies. As long as it was in effect when the fraud occurred, then the coverage does not expire.
What is Media Liability Insurance?
I wrote a blog on media liability insurance, more commonly known as Errors and Omissions Insurance. In a nutshell, E&O is a supplemental policy that provides protection against infringement, libel, or plagiarism. Originally, people knew E&O as Libel Insurance. It covered defamation of character and only covered a 1-3 year period. As time went on, libel insurance morphed into something that was more comprehensive. It became based on occurrences rather than time periods. This is now known as Media Liability insurance or Errors and Omissions.
Do I Need Media Liability Insurance?
In the late 1990’s, MGM found themselves involved in a lawsuit brought against them by Kevin McClory. MGM acquired the rights to the James Bond character from Ian Fleming and released their first movie “Dr. No” in 1962. McClory claimed that he owned the rights to the Bond character, not MGM, based on work he had done on Thunderball back in 1950. MGM finally won the suit, but only after millions of dollars in legal fees.
Do you need media liability insurance? I guess that depends on whether or not you have the funds to defend against claims of infringement.
What Does Media Liability Insurance Cover?
General liability insurance covers damage to a third-party or their property, and E&O Insurance (media liability insurance) protects you against claims of a less tangible nature.
- Infringement of Copyright
- Invasion of Privacy
- Infringement of Trademark, Slogan, or Title
- Plagiarism
- Defamation of Products
- Libel or Slander
Errors and omissions insurance policies typically cover the business owner, employees, and subcontractors.
Where Can I Get Media Liability Insurance?
For more information on all types of production insurance in California, contact Equipment & Production Insurance.
The team at Equipment and Production Insurance are film, photographic & entertainment industry insurance specialists. Whether you need short-term, annual, post, documentary, commercial, equipment, rental house, E&O, or rent your own insurance, you can rely on their quick and knowledgeable assistance to meet all of your production insurance needs.
